The number of rigs drilling for oil in the U.S. fell by four this week to 747, Baker Hughes, a GE company, reported.
The U.S. oil-rig count is typically viewed as a proxy for activity in the sector. After peaking at 1,609 in October 2014, low oil prices put downward pressure on production and the rig count fell sharply. The oil-rig count has generally been rising over the past year.
Continue Reading Below
The nation's gas-rig count rose by three to 183 in the past week, according to oil-field services company Baker Hughes.
The U.S. offshore-rig count was down by one from last week to 19, which is 3 less than a year ago.
Oil prices were less than 0.5% higher at $57.29 a barrel in afternoon trading Friday.
Write to Aisha Al-Muslim at firstname.lastname@example.org
(END) Dow Jones Newswires
December 15, 2017 13:29 ET (18:29 GMT)